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India bond traders eye US data, RBI liquidity operation for cues
India bond traders eye US data, RBI liquidity operation for cues

Time of India

time4 days ago

  • Business
  • Time of India

India bond traders eye US data, RBI liquidity operation for cues

Indian government bond yields were largely unchanged in early deals on Thursday, as market participants awaited crucial U.S. jobs data after market hours and measures from the local central bank in response to a widening banking liquidity surplus . The yield on the benchmark 10-year bond was at 6.2830% as of 9:45 a.m. IST, after closing at 6.2892% in the previous session. The five-year 6.75% 2029 bond was at 5.9492% after ending at 5.9522% on Wednesday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like POROSI TANI +355677168901 | Koha nuk ka qenë kurrë kaq elegante. Reklame nga | Enzo Attini Undo "It is just a wait-and-watch game for today, before an eventful Friday," a trader with a primary dealership said. Bonds Corner Powered By India bond traders eye US data, RBI liquidity operation for cues Indian government bond yields remained stable as investors awaited U.S. jobs data and the Reserve Bank of India's response to a growing banking liquidity surplus. Market participants are anticipating potential rate cuts by the Federal Reserve, influenced by weaker economic data. The RBI's liquidity management policy and upcoming bond sales are also key factors affecting market sentiment. ETMarkets Smart Talk - FPI outflows from Indian bonds likely tactical profit booking, says Puneet Pal of PGIM India AMC Indian bonds confined as traders await RBI's liquidity steps, US data Call money market sees Rs 3,000 crore surge in volumes as extended trading hours begin Tariffs, Deficits, and Yields: How Trump's policies are reshaping global bond markets Browse all Bonds News with The U.S. nonfarm payroll data for June is due later in the day, and a weaker reading would boost chances of a faster pace of rate cuts from the Federal Reserve. Currently, there is a 27% probability that the Fed will reduce rates at the end of this month, according to the CME FedWatch tool, while the market has fully priced in a 25 basis point cut in September. Live Events The odds of a rate cut in July increased after U.S. private payrolls unexpectedly fell in June. Traders remain focused on the Reserve Bank of India 's liquidity management policy, after it withdrew 850 billion rupees from the banking system through an operation that is due to mature on Friday. A follow-up announcement is expected after market hours, with the spotlight on whether the RBI chooses to increase the quantum of withdrawal amid a rising liquidity surplus and a plunge in overnight rates. New Delhi will sell 320 billion rupees ($3.7 billion) of bonds on Friday, with the supply of longer-term notes likely to challenge investor appetite. RATES India's overnight index swap rates were barely changed, with shallow trading volumes. The one-year and two-year OIS rates were not yet traded, while the liquid five-year was marginally lower at 5.65%.

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